Urban One Inc., a company in Maryland that offers radio, television, and digital programming geared toward the African-American community, Monday announced it has signed a definitive agreement to sell its Detroit radio station, WDMK-FM, for $13.5 million to Beasley Broadcast Group Inc. in Florida. Details of the transaction were not disclosed.
The deal includes W228CJ, W252BX, and W260CB translators and is subject to Federal Communications Commission approval and other customary closing conditions.
Urban One has had a presence in the Detroit market since 1998. The company will continue to operate WGPR-FM under its current local marketing agreement until the end of the year.
“We want to thank the incredibly talented and dedicated staff for their contribution to a remarkable era in Detroit for Urban One,” says Alfred Liggins, CEO of Urban One. “We are thrilled that Beasley has agreed to continue airing our syndicated programming, including ‘The Tom Joyner Morning Show,’ ‘D.L. Hugley Afternoon Show,’ ‘Get Up! Mornings with Erica Campbell,’ and ‘The Willie Moore Jr. Afternoon Show,’ allowing Urban One to continue serving the Detroit community of listeners.”
Urban One owns TV One LLC, which serves more than 59 million households, CLEO TV, and owns and/or operates 59 broadcast stations in 15 urban markets across the country.